Trump offers to mediate Kashmir conflict for India and Pakistan

The decision to renew US military assistance to Pakistan is still on hold, but President Trump made it clear it is possible.

Donald Trump has offered to mediate between India and Pakistan over the conflict in Kashmir.

The US president has been holding talks with Pakistani leader Imran Khan at the White House.

Trump also said America could restore military aid to Pakistan.

Al Jazeera’s Mike Hanna reports from Washington.

Hasbro shares jump 3% premarket after earnings and revenue beat

Hasbro Inc. shares rose 3% in premarket trade Tuesday, after the My Little Pony maker blew past earnings estimates for the second quarter. Pawtucket, R.I.-based Hasbro said it had net income of $13.4 million, or 11 cents a share, in the second quarter, down from $60.3 million, or 48 cents a share, in the year-earlier period. Excluding an $85.9 million non-cash after-tax charge relating to a U.S. pension plan liability, the company had adjusted EPS of 78 cents a share, well ahead of the 50 cents FactSet consensus. Revenue rose 9% to $984.5 million, also ahead of the $958 million FactSet consensus. Chief Executive Brian Goldner said earnings were bolstered by positive consumer trends at retail and certain geographies and brand categories. "Importantly, we are well positioned for the holiday season with major brand initiatives across categories, including The Walt Disney Animation Studios’ Frozen 2 and Lucas Films’ Star Wars: The Rise of Skywalker which do not launch until the fourth quarter," he said in a statement. Shares have gained 34% in 2019, while the S&P 500 SPX, +0.28% has gained 19%.

Nigeria's President Buhari submits list of cabinet nominees to Senate

ABUJA, July 23 (Reuters) – Nigeria’s President Muhammadu Buhari submitted his list of cabinet nominees to the upper house of parliament, the Senate, on Tuesday.

The Senate has to approve nominees before they can become ministers. (Reporting by Camillus Eboh and Paul Carsten)

Biogen profit rises 72%

(Reuters) – Drugmaker Biogen Inc (BIIB.O) reported a 72.4% rise in second-quarter profit on Tuesday, boosted by higher sales of its multiple sclerosis treatment Tecfidera and lower research and development costs.

Net income attributable to the company rose to $1.49 billion, or $7.85 per share, in the quarter, from $866.6 million, or $4.18 per share, a year earlier. (bit.ly/2LDqLL6)

Total revenue rose to $3.62 billion from $3.36 billion.

Charlotte, host of GOP convention, condemns Trump’s comments

Lawmakers of the North Carolina city set to host the 2020 Republican National Convention have condemned recent comments by President Donald Trump as racist and xenophobic.

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The Charlotte Observer reports the Charlotte City Council voted 9-2 Monday to pass a resolution calling out specific tweets and comments by Trump.

Trump tweeted this month that four minority congresswomen should return to “the totally broken and crime infested places from which they came.”

The comment targeted Reps. Alexandria Ocasio-Cortez of New York, Ayanna Pressley of Massachusetts, Rashida Tlaib of Michigan and Rep. Ilhan Omar of Minnesota, who immigrated to the U.S. decades ago. Trump supporters singled out Omar at a rally last week, chanting “Send her back.”

The resolution also criticized Trump saying that white supremacists in Charlottesville are “very fine people.”

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Information from: The Charlotte Observer, http://www.charlotteobserver.com

Harley-Davidson Q2 adjusted earnings of $1.46 per share

Harley-Davidson (HOG) reported a profit for second quarter that fell from last year.

The company’s earnings came in at $195.63 million, or $1.23 per share. This compares with $242.34 million, or $1.45 per share, in last year’s second quarter.

Excluding items, Harley-Davidson reported adjusted earnings of $232.61 million or $1.46 per share for the period.

The company’s revenue for the quarter fell 6.5% to $1.43 billion from $1.53 billion last year.

Harley-Davidson earnings at a glance:

-Earnings (Q2): $232.61 Mln. vs. $253.52 Mln. last year.
-EPS (Q2): $1.46 vs. $1.52 last year.
-Revenue (Q2): $1.43 Bln vs. $1.53 Bln last year.

Biogen Q2 Profit Rises; Lifts 2019 Outlook

Biogen Inc. (BIIB) reported that its second quarter GAAP net income attributable to the company rose to $1.5 billion or $7.85 per share from $867 million or $4.18 per share in the second quarter of 2018.

The prior net income was impacted by $589 million or $2.84 per share related to the 10-year exclusive agreement with Ionis Pharmaceuticals, Inc., the acquisition of BIIB104 from Pfizer Inc., the option payment to Neurimmune SubOne AG, and the option agreement with TMS Co., Ltd.

Non-GAAP net income was $1.7 billion or $9.15 per share, compared to $1.2 billion or $5.80 per share in the previous year.

Quarterly total revenues were $3.6 billion, an 8% increase from the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $7.53
per share and revenues of $3.47 billion for the second-quarter. Analysts’ estimates typically exclude special items.

The company raised its 2019 earnings per share outlook to a range of $29.60 – $30.40, from the prior guidance range of $26.65 and $27.65 per share.

Annual revenue is expected to be approximately $14.0 billion to $14.2 billion, an increase from the prior guidance range of approximately $13.6 billion to $13.8 billion.

Annual Non-GAAP earnings per share is expected to be between $31.50 and $32.30, an increase from the prior guidance range of $28.00 to $29.

Wall Street currently is looking for fiscal year 2019 earnings of $29.7 per share on annual revenues of $13.95 billion.